Recommended Posts

My LPR wife is in the process of selling her apartment back in Italy. The sale should go through in early 2017. I understand we are eligible for a Foreign Tax Credit on the capital gains from the sale; but I also read about an itemized deduction that we can take as well. Which would be the better option for our situation?

My LPR wife is in the process of selling her apartment back in Italy. The sale should go through in early 2017. I understand we are eligible for a Foreign Tax Credit on the capital gains from the sale; but I also read about an itemized deduction that we can take as well. Which would be the better option for our situation?

Thanks

As none of us know what your particular financial situation is (income, credits, deductions, etc.), I highly recommend you talk to a tax professional. I would also recommend NOT going to a chain like H&R or JH but rather try to find an independent tax professional and ask if they have experience with foreign income.

Sign in

Important Disclaimer: Please read carefully the Visajourney.com Terms of Service. If you do not agree to the Terms of Service you should not access or view any page (including this page) on VisaJourney.com. Answers and comments provided on Visajourney.com Forums are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Visajourney.com does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. VisaJourney.com does not condone immigration fraud in any way, shape or manner. VisaJourney.com recommends that if any member or user knows directly
of someone involved in fraudulent or illegal activity, that they report such activity directly
to the Department of Homeland Security, Immigration and Customs Enforcement. You
can contact ICE via email at Immigration.Reply@dhs.gov or you can telephone ICE
at 1-866-347-2423. All reported threads/posts containing reference to immigration fraud or
illegal activities will be removed from this board.
If you feel that you have found inappropriate content, please let us know by contacting us here with a url link to that content. Thank you.